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WESTERN WATER COMPLETES PRIVATE PLACEMENT

 SAN DIEGO, Jan. 6 /PRNewswire/ -- Western Water Co. (NASDAQ: WWTR) announced today that it had completed a private placement of approximately $7,500,000 of its $100 stated value series A cumulative convertible redeemable preferred stock through The First Boston Corp. and LH Friend, Weinress and Frankson Inc.
 With a portion of these proceeds the company finalized the acquisition of real estate and water rights in the Cherry Creek area of Denver. The Cherry Creek Project involves the filing of a plan of augmentation, which, upon completion, will yield divertible tributary water which the company will sell to various municipalities and other users in the Denver area.
 "The Cherry Creek Project represents a significant step in the company's continuing plan to acquire and develop water resources throughout the western United States," according to President Peter Jensen.
 In another development, the company announced that it has entered into a letter of intent for a 12-month option to sell its Silica grinding facility in Marysville, Calif., for up to $4.5 million, based on a multiple of the facility's cash flow. During the option period the optionee will fund the start-up and operations of the facility and will share cash flow from Silica operations with the company.
 -0- 1/6/93
 /CONTACT: Peter L. Jensen, president of Western Water, 619-535-9282/
 (WWTR)


CO: Western Water Co. ST: California IN: UTI SU:

KJ-JB -- SD004 -- 2439 01/06/93 18:51 EST
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Publication:PR Newswire
Date:Jan 6, 1993
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